The RF Power Semiconductor Market is estimated to be valued at US$ 20.3486 Bn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
RF power semiconductors are used in radio frequency (RF) amplifiers, RF filters, converters, and transmitters which find applications in communications, defense & aerospace, industrial, automotive, medical and other sectors. They help in generation and amplification of electromagnetic waves across a range of frequencies. RF power semiconductors find key applications in cellular base stations, military radars, wireless infrastructure and other wireless systems.
The major driver for the growth of RF power semiconductor market is the rising adoption of 5G networks globally. 5G connectivity promises vastly improved network speeds and bandwidth along with low latency which will spur the demand for advanced 5G infrastructure equipment deploying RF power components. For instance, by 2025 around 25% of mobile connections are anticipated to be running on 5G networks worldwide. Additionally, growing proliferation of IoT devices which require seamless wireless connectivity is also fueling the need for more advanced and efficient wireless infrastructure in turn augmenting the market growth. On the supply side, key players are investing heavily in developing new gallium nitride (GaN) based RF power semiconductor products which are more efficient compared to traditional silicon and gallium arsenide based components. For example, GaN transistors have almost 3x higher power density and better reliability vs silicon counterparts. These advancements are enabling design of more compact and powerful wireless base stations and terminals.
The RF power semiconductor market is dominated by the telecommunication segment which occupies over 30% share of the global market. 5G deployment across major economies and growth in the number of mobile subscribers are the key factors driving demand from this segment.The industrial segment is the second largest sub-segment owing to wide usage of RF power semiconductors in medical equipment, military radar systems, and industrial heating equipment among others.
Political:Stable political environments and government initiatives promoting 5G network rollout in countries like US, South Korea, and China are promoting investments in telecom infrastructure and boosting the RF power semiconductor market.
Economic: Continuous economic growth in emerging nations of Asia Pacific is increasing purchasing power leading to higher sales of consumer electronics powered by RF semiconductors.
Social: Growing mobile workforce and usage of IoT devices are strongly influencing the adoption of high speed 5G networks and next-gen wireless infrastructure employing RF power semiconductor components.
Technological: Advent of new applications in autonomous vehicles, drones, and AI are presenting lucrative avenues for RF power devices capable of withstanding high frequency and power. Advancements in gallium nitride and silicon carbide materials are also expanding functionality.
The global Rf Power Semiconductor Market Size is expected to witness high growth, exhibiting CAGR of 8.7% over the forecast period of 2023 to 2030, due to increasing demand for 5G infrastructure and mobile devices. By 2030, the market size is projected to reach US$ 46.4 Bn.
Regional analysis indicates that Asia Pacific dominated the global market in 2023 with over 35% share led by countries such as China, India, and Japan rapidly deploying 5G networks. North America is expected to grow at a CAGR of 10.2% during 2023-2030 owing to large-scale investments by communication service providers in the US and Canada.
Key players operating in the RF power semiconductor market are Infineon Technologies, Ampleon, Qorvo,Wolfspeed (Cree), Ampleon Netherlands, Broadcom, EPC, Fujitsu Semiconductor, Integra Technologies, MACOM, Microchip Technology, RFHIC, Sumitomo Electric Device Innovations, Toshiba, WIN Semiconductor. These leading players are focusing on developing wide bandgap semiconductors like GaN and SiC to enable higher operating frequencies and efficiencies required for future wireless technologies.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it